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On Relative Stability and the Coordination Problem in Market Economies

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  • Luciano Boggio

Abstract

[eng] The explanation of the coordination of actions and decisions of many agents within mar­ket economies has been mainly dealt with by the general equilibrium school of Walrasian derivation. Here a different approach to that problem is suggested. Definitions and procedures for the study of relative stability - a notion which is essential to the study of the above mentioned problem - are also discussed and a technique for simplifying such a study is presented. [fre] L'explication de la coordination des actions et des décisions d'un grand nom­bre d'agents dans les économies de marché a été principalement conçue suivant l'approche walrasienne de l'équilibre général. Ici, une approche différente est sug­gérée.. Des définitions et des procédures pour l'étude de la stabilité relative - une notion essentielle pour l'étude du problème mentionné - sont, également, discu­tées et une technique pour simplifier une telle étude est présentée.

Suggested Citation

  • Luciano Boggio, 1995. "On Relative Stability and the Coordination Problem in Market Economies," Revue Économique, Programme National Persée, vol. 46(6), pages 1445-1459.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1995_num_46_6_409744
    DOI: 10.3406/reco.1995.409744
    Note: DOI:10.3406/reco.1995.409744
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    References listed on IDEAS

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    1. D. W. Jorgenson, 1971. "Stability of a Dynamic Input-Output System," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 20, pages 264-275, Palgrave Macmillan.
    2. Boggio, Luciano, 1992. "Production Prices and Dynamic Stability: Results and Open Questions," The Manchester School of Economic & Social Studies, University of Manchester, vol. 60(3), pages 264-294, September.
    3. Dumenil, Gerard & Levy, Dominique, 1991. "Micro adjustment toward long-term equilibrium," Journal of Economic Theory, Elsevier, vol. 53(2), pages 369-395, April.
    4. Morishima,Michio, 1976. "The Economic Theory of Modern Society," Cambridge Books, Cambridge University Press, number 9780521291682.
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